$75 million in yearly interest paid to Fairfax!
"Chen pointed out that to be fair, BlackBerry Ltd has about $1.4 billion in debt and that has to be included in the equation."
So, Christianson is the only one that thinks they have zero debt!
$1.25 billion X 6% = $75 million.
All the highly rated hardware and software engineers left company before Heins came in. They had to give bonuses to remaining talent just to keep departments running. By the time Chen came in, the remaining talent left company. Now Chen is stuck with third rate engineers, marketing and sale folk, those that could not get jobs elsewhere.
He won't have until 2017, 2018 if revenues keep dropping. Share price will collapse. Also, he get stock option of shares at a given price, the only way he makes money from them is he sells them above the price he was given. Those stock option shares can expire worthless if the actual price drops below option price..
Yahoo finance page sys $2.89B cash, with 529M outstanding shares, and $171B debt. Are you adding you invented short shares?
$1.25 B debenture x 6% = $75 M annually. Fairfax down about $350 M from average purchase of ~$17/sh. $4.7 years for Fairfax to make up loss. Then get the $1.25B out.
Heins has hidden them.
Maybe Fairfax will get some of the fictitious shares to pay their loan?
BBRY says there are 529 million shares outstanding! Where did you get the extra 161 million shares?
christiansonbradley • Oct 20, 2013 5:14 PM
Who is the owner of 400 million Blackberry shares?
There are approximately 690 million long Blackberry shares out in the wild. 280 million are owned by institutions according to the nasdaq ownership summery. That leaves 400-410 million shares held by unknown groups or individuals. Who the heck owns all those shares?
Aaron Hernandez believed that as well. Now he got a life sentence!
He believes that the debt will be paid off with those invented 400 million short share that he said were missing.
"all the debt you are so worried about vanishes over night." So, you admit its debt!
And, an increase in dividend will be announced! The dividend increase will be bigger than current BBRY dividend!
Since only 0.5% of users on globe use BBRY phones, and NFC not available on Leap, seems bury pay is a flop like everything else.